Types of Credit Cards in India

Credit cards are small plastic cards that can make life extremely easy. These cards let you make credit-based purchases of products and services that you may repay off at the end of the month. You have the option to pay monthly minimum payments or making full repayments of the credit you have taken from your credit card company.

Various Types of Credit Card in India

Fuel Credit Cards

Every time a cardholder purchases fuel, their fuel credit card offers benefits. By offering reward offers and exemptions of fuel charges, this card assists clients in saving cash when refuelling the vehicles. While purchasing fuel at specific petrol pumps around India, some banks also offer accelerated loyalty points. Refueling can be purchased with the earned reward points for a predetermined amount. The activation bonus, entertainment bonuses, food, hotel, and fitness offerings, among other features, are additional benefits.

Travel Credit Cards

Travel credit cards are popular because of the numerous travels benefits they provide. These cards provide rewards for travel both domestically and internationally. To offer travel credit cards, the majority of banks have partnered with airlines or travel agencies. Customers can accrue air miles by using this card to make travel-related purchases. In addition, some travel cards give its customers access to airport lounges. Customers who use these cards can convert their reward points into air miles, which can be used to purchase tickets and choose better seats on trips. Travel cards also give discounts on hotels, vacations, golf, restaurants, travel insurance, etc.

Types of Credit Cards in India

Business/Corporate Credit Cards

Business credit cards are issued to businesses, corporations, and other financial institutions so that employers can provide credit cards to their employees while also simply managing their finances on the card. These cards are only valid while the individual is employed by the business and can't be used for personal transactions.

Corporate cards include hotel and travel discounts, business savings plans, cost management, insurance, fuel cost waivers, airport lounge access, reward schemes, cash advances, add-on cards, bill payments, and the ability to convert purchases into regular payment. Additionally, businesses have the option of having their name embossed on these credit cards.

Entertainment Credit Cards

Entertainment credit cards are well-known for their incredible entertainment offers, which include discounts, cashback, or buy one get one free deals on cinema ticket bookings, concerts, and shows, among many other things. Additionally, these cards give users benefits for their way of life, golf, dining, shopping, and travel. In addition, users can earn rewards points on such purchases and exchange them for gift cards, cinema tickets, or travel tickets.

Lifestyle Credit Cards

Lifestyle credit cards are designed with the applicants' changing lifestyles and income in mind. The majority of lifestyle credit cards offer rewards including dining, shopping, travel, and golfing. These cards usually come with free annual fees for the first year, cashback on travel purchases, insurance savings, etc. With lifestyle credit cards, users can receive bonus points for their purchases.



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